Apple iWork '08 - Manual (Page 121)

Chapter 3 Getting Started with Keynote 121
To move an object from one position on a slide to another:
1 Select an object on a slide.
2 In the Build Inspector, click Action, and then choose Move from the Effect
pop-up menu.
A red line connected to a “ghosted” (transparent) version of the object appears,
showing the object’s destination.
3 To modify the movement, select the path and do any of the following:
 To change the direction or distance the object moves, drag the ghosted object.
 To change the path from straight to curved, click the curved Path button in the Build
Inspector.
 To reshape a curved path, drag one of its nodes or a ghosted object.
 To add a node (point) to a path, hold down the Option key while you click the path.
The object starts
moving from here. Drag a ghosted object
to define where the
object stops moving. You can even
move the object
off the slide.